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Rap News at Gutta World Magazine. Specializing in up to the minute rap news, hiphop news and rap music news.Sat, 24 Jan 2015 04:51:34 +0000en-UShourly1http://wordpress.org/?v=4.0.1Gucci Mane Loses $270,000 in Diamond Lawsuithttp://www.guttaworld.com/gucci-mane-loses-270000-in-diamond-lawsuit/
http://www.guttaworld.com/gucci-mane-loses-270000-in-diamond-lawsuit/#commentsFri, 01 Jun 2012 20:00:28 +0000http://www.guttaworld.com/?p=7090TMZ is reporting that rapper Gucci Mane, real name Radric Davis, lost $270,000 in a lawsuit filed by a Georgia based jewelry company. The company sued the rapper for stealing diamonds.

A&A Diamonds filed a lawsuit against the rapper in Henry County, GA claiming they had loaned Gucci Mane a $130,000 pinky ring, and a diamond necklace and bracelet that totaled $110,000.

The lawsuit stated that Gucci had 15 days to pay for the jewelry or return it, and he did neither. He only paid the company $40,000 of the money they claim he owed.

A&A Diamonds sued for $274,523.34. That covered $200,000 for the jewelry in addition to attorney and interest fees.

Gucci Mane never showed up in court, which resulted in a default judgement against him in April, along with a lien on his property.

The rapper and his camp have yet to respond to the action.

Recently, the Atlanta-based rapper released his new mixtape, I’m Up, which features a star studded line-up that includes Rick Ross, Lil Wayne, Chris Brown, Big Sean, Fabolous,T.I. and Scarface. Ironically, Scarface appears on a song on the tape called Scarface, which looks into Gucci’s face tattoo.